Legal Dictionary

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  1. M

    Also stands as an abbreviation for several words of which it is the initial letter; as "Mary," (the English queen of that name,) "Michaelmas," "master," "middle."
    When persons were convicted of manslaughter in England, they were formerly marked with this letter on the brawn of the thumb. 2. This letter is sometimes put on the face of treasury notes of the United States, and signifies that the treasury note bears interest at the rate of one mill per centum, and not one per centum interest. 13 Peters, 176.
  2. M&a

    Alternative, short term for mergers and acquisitions.
  3. M'naughten Rule

    Common law formulation of the insanity defense, still in force today, with variations, in many jurisdictions. Under this test, the defendant will be found not guilty by reason of insanity if he or she can show a mental disease or mental defect rendered him incapable of understanding the nature of his or her action, or of distinguishing between right and wrong regarding the crime with which he or she has been charged.
  4. M-commerce

    Using mobile communication devices like cell phones or personal digital assistants (PDA) to transact electronic commerce, ecommerce.
  5. M1

    Demands on accounts such as circulating currency and deposits.
  6. M2

    An M1 option plus overnight agreements and deposits, savings accounts, and mutual funds.
  7. M3

    An M2 option plus large time deposits and repurchase agreements.
  8. Ma Bell

    Telecommunications giant AT&T's old, nostalgic name. Originally called Ma Bell because it was the primary service provider of telephone services and seen as the mother of the industry. The company adapted to the AT&T name after dismantling the original bell system company.
  9. Macaroni Defense

    When a company requires securities be purchased at a high cost preventing a hostile takeover.
  10. Macaulay Duration

    In 1938 US academic Frederick Macaulay defined this tool. A fixed-income financial instrument's approximate measure of its price volatility and interest rate-sensitivity. An interest bearing bond is an instrument example. Calculated as weighted average time left until a series of cash flows from the instrument are received. The weights are the present cash flow value divided by the instrument's price. Also refer to modified duration.
  11. Mace

    A large staff, made of the precious metals, and highly ornamented. It is used as an emblem of authority, and carried before certain public functionaries by a mace-bearer. In many legislative bodies, the mace is employed as a visible symbol of the dignity and collective authority of the house. In the house of lords and house of commons of the British parliament, It is laid upon the table when the house Is In session. In the United States house of representatives, it is borne upright by the [...]
  12. Mace Proof

    Immune from arrest.
    Secure against arrest.
  13. Mace-bearer

    A Mace-bearer, or Macebearer, is a person who carries a mace, either a real weapon or ceremonial.
    Eng. law. An officer attending the court of session.
  14. Mace-Greff

    In old English law. One who buys stolen goods, particularly food, knowing it to have been stolen.
  15. Macedonian Decree

    A Roman law for the protection of young men against usurers.
    In Roman law. This was the Senatusconsultum Mace-donianutn, a decree of the Roman senate, first given under Claudius, and renewed under Vespasian, by which it was declared that no action should be maintained to recover a loan of money made to a child who was under the patria potestas. It was intended to strike at the practice of usurers in making loans, on unconscionable terms, to famlly heirs who would mortgage their futute expectations from the paternal estote. The law is said to have derived [...]
    Civil law. A decree of the Roman senate, which derived its name from that of a certain usurer who was the cause of its being made, in consequence of his exactions. It was intended to protect sons who lived under the paternal jurisdiction, from the unconscionable contracts which they sometimes made on the expectations after their fathers' deaths; another, and perhaps, the principle object, was to cast odium on the rapacious creditors. It declared such contracts void. Dig. 14, 6, 1; Domat, Lois, [...]
  16. Macegrief

    A guilty buyer of stolen meat.
  17. Macer

    A mace-bearer; an officer attending the c
  18. Machecollare

    To make a warlike device over a gate or other passage like to a grate, through which scalding water or ponderous or offensive things may he cast upon the assailants. Co. Litt. 5a.
  19. Machiavellianism

    Machiavellianism is "the employment of cunning and duplicity in statecraft or in general conduct". The word comes from the Italian Renaissance diplomat and writer Niccolò Machiavelli, born in 1469, who wrote Il Principe (The Prince), among other works. In modern psychology, Machiavellianism is one of the dark triad personalities, characterized by a duplicitous interpersonal style, a cynical disregard for morality and a focus on self-interest and personal gain.
  20. Machinability

    The term machinability refers to the ease with which a metal can be cut (machined) permitting the removal of the material with a satisfactory finish at low cost. Materials with good machinability require little power to cut, can be cut quickly, easily obtain a good finish, and do not wear the tooling much; such materials are said to be free machining. The factors that typically improve a material's performance often degrade its machinability. Therefore, to manufacture components economically, [...]
    Being easier to cut, drill, grind, and shape are typical of this material's characteristics.

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